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3 E Network Technology Group Amends Private Placement of $7.4mln Senior Notes
ByAinvest
Wednesday, Oct 15, 2025 7:34 am ET1min read
3e Network Technology Group has amended its previously announced private placement of senior convertible secured notes, originally set to raise $7.4 million. The amendment sets a floor price of $0.63 per share for the first tranche of notes, representing 20% of the minimum price as of June 9, 2025. The Offering is for three tranches of notes and warrants.
3E Network Technology Group (NASDAQ: MASK) has announced significant amendments to its previously announced private placement of senior convertible secured notes. The original offering, set to raise $7.4 million, has been modified to include a floor price of $0.63 per share for the first tranche of notes, representing 20% of the minimum price as of June 9, 2025, according to a .The amendments, effective as of October 15, 2025, have been agreed upon by the Company and the Investor through a Letter Agreement. The changes include:
1. Floor Price for Conversion: The remaining portion of the First Tranche Note and the Warrant exercise price cannot be converted or exercised below a $0.63 Floor Price. If the applicable conversion price or exercise price would otherwise fall below this Floor Price, the Company will issue shares at the Floor Price and pay the Investor the resulting economic difference in cash.
2. Nullification of Second and Third Tranches: References to the second and third tranches in the Securities Purchase Agreement are now null and void. These tranches are no longer part of the Offering.
The Company intends to use the net proceeds from this Offering for general corporate purposes and working capital, as well as other purposes deemed to be in its best interest by the Board of Directors, the company said in the same announcement.
This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities in any state or jurisdiction where such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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